Macro - Country Economic Forecasts - United Arab Emirates
Growth in the non-oil oil economy eased at the beginning of the year, with non-oil GDP expanding by 4% in Q1. Although data for Abu Dhabi suggests growth picked up slightly in Q2, the PMI for the non-oil sector fell to near three-year lows in September, suggesting a continuing slower growth rate. We expect non-oil growth of 4.5% this year with overall GDP rising to 3.7%.
United Arab Emirates : Non-oil growth to remain robust despite some easing